Notes from the halls of Congress...Washington DC...

[Cate Long]

Hello friends and family:

I'm writing you from Washington, DC where I've been working on an source project related to financial reform.

I'm doing this as a citizen and someone who believes that our system of laws must be shaped in a way that protects individual citizens and does not favor special interests. 

You know that I've worked in the bond market for 10+ years and understand the connections between Wall Street and Main Street.

Wall Street has attained a dominant position in our economy and clearly exerts exceptional influence here in Washington.

It's been very discouraging at times to see members of Congress propose important reforms that are quickly attacked and watered down by Wall Streets lobbyists.

Today I attended the the House Oversight and Reform Committee hearing concerning the back door bailout of AIG, Goldman Sachs, Merrill Lynch and foreign banks. 

This issue is very complex but history will clearly show that this was one of the most substantial "thefts" of American resources.

Wall Street got 100 cents on the dollar, has recorded blockbuster profits and is paying their highest bonuses ever.

Meanwhile American people have an official unemployment rate of 10+%, millions are losing their homes and the government is faced with crushing debts.

Tomorrow the Senate will vote on the reconfirmation of Ben Bernanke as chairman of the Federal Reserve.

Mr. Bernanke's reappointment will mean more favoritism for Wall Street. And a postponed recovery for Main Street.

I've heard a few members of the Senate make fun of "populism". But who could be against "populism"?

It is defined by the Cambridge dictionary as "political ideas and activities that are intended to represent ordinary people's needs and wishes".

Dear friends I'm asking you to become a populist today. 

I'm asking you to think about your place in our nation and the power and rightness that you as a citizen have in determining our nations course.

If we don't raise our voices to Congress those large, cavernous halls remain silent and the influence of Wall Street dominates.  

Please raise your voice tomorrow and call your Senator to vote no on Ben Bernanke. 

Please forward this to your friends. And please, please become a "populist" today.

Very best, Cate

PS: The best rationale of a senator for voting against Ben Bernanke is from Oregon senator Jeff Merkley. Senator Merkley is showing a lot of courage to vote and speak against the leadership of his party on this issue. I have observed Senator Merkley spend a lot of time learning about technical issues related to financial reform.He has shown the kind of dedication and commitment to good governance that we need from our elected representatives.

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